In a report released today, Jayson Noland from Robert W. Baird maintained a Hold rating on Symantec Corp (NASDAQ: SYMC), with a price target of $25. The company’s shares closed yesterday at $29.18.
Noland noted:
“Investigation [ Please refer to Appendix – Certification ] LOWERING PRICE TARGET 1-Year Price Chart J – 1 7 J – 1 7 A – 1 7 S – 1 7 O – 1 7 N – 1 7 D – 1 7 J – 1 8 F – 1 8 M – 1 8 A – 1 8 M – 1 8 3 6 3 4 3 2 3 0 2 8 2 6 2 4 2 5 3 4 $29.18 Market Cap (mil): $19,346 Shares Out (mil): 663.0 Average Daily Vol (mil): 5.32 2.1% Estimates FY 0.29 A 0.33 A 0.33 E Q2 0.30 A 0.40 A 0.38 E Q3 0.32 A 0.49 A 0.43 E Q4 0.28 A 0.46 A 0.44 E Fiscal EPS 1.18 A 1.69 A 1.58 E Previous Est 1.62 A 1.68 E FactSet and Baird Data. Price chart reflects most recent closing price. Jayson Noland, CFA Sr.”
According to TipRanks.com, Noland is a 5-star analyst with an average return of 19.1% and a 65.5% success rate. Noland covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Juniper Networks.
Currently, the analyst consensus on Symantec Corp is Moderate Buy and the average price target is $28.67, representing a -1.7% downside.
In a report issued on April 27, JMP Securities also downgraded the stock to Hold.
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Based on Symantec Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.21 billion and net profit of $1.34 billion. In comparison, last year the company earned revenue of $1.12 billion and had a GAAP net loss of $136 million.
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Symantec Corp. engages in the provision of security, storage, and systems management solutions. It operates through the Consumer Digital Safety and Enterprise Security segments. The Consumer Digital Safety segment focuses on providing a digital safety solution to protect information, devices, networks, and the identities of consumers.
